YTO’s recurring net profit grew 40% year on year in the third quarter. Parcel volume share rose 1.4 percentage points year over year to 17.1%. Unit average selling price fell to CNY 2.06 from CNY 2.10 in the second quarter.
Successful mergers or acquisitions could strengthen YTO’s scale.
Bears
YTO could lose more volume share than expected to competitor STO following support to the latter by Alibaba Holdings that enables STO to be more aggressive in its price cuts for longer.
YTO Express is one of the Tongda operators—the top four national express delivery companies that use the network partner model. In this model, Tongdas provide line-haul transportation, sorting, and waybill services to their network partners for fees, while their local network partners provide first-mile pickup and last-mile delivery services under the Tongdas’ brands and collect customer payments.The company was founded by Yu Huijiao in 2000. Yu remains chair and president with a 33.4% stake as of Feb. 25, 2026. Yu and Zhang Xiaojuan, who owned 2.15% of YTO as of that date, are persons acting in concert. YTO’s strategic shareholder is leading China e-commerce company Alibaba Group and its affiliated companies, with around a 16.8% interest as of Feb. 25, 2026.